Working with Payment Terms

This functionality is still under development!

Fields

Name:  Descriptive name of the payment term.  We recommend a format of [Discount] [Days to pay] like "Net 30."

Description:  Short description of the payment term.  By default, we describe "Net 30" as "Payment is due 30 days from invoice."

COD:  Denotes the payment term as "Cash on Delivery."  This option also removes the ability to set a due date and discount on the payment term.

Active:  Marks the payment term as active.  If unchecked, payment term will not be eligible to be selected on various records, such as the Bill To customer or order.

Due Date Option:  Select how the due date is calculated.

Number of days:  Allows you to set the due date based on days in the future.

Number of months:  Allows you to set the due date based on months in the future.

Specific day of the month:  Allows you to set the due date based on a specific day of the month.

Due Days/Months/Day:  Specify the due date based on days/months/day of the month.

Minimum Days:  Set the minimum days that should pass before the due date is calculated.  For example, if you have a due date set to the 15th of every month, and the invoice is created on the 14th, you can set the minimum days field to ensure invoices are due on the following 15th.

Discount Date Option:  Select how the discount date is calculated.

Number of days:  Allows you to set the discount date based on days in the future.

Number of months:  Allows you to set the discount date based on months in the future.

Specific day of the month:  Allows you to set the discount date based on a specific day of the month.

Due Days/Months/Day:  Specify the discount date based on days/months/day of the month.

Minimum Days:  Set the minimum days that should pass before the discount date is calculated.  For example, if you have a discount date set to the 15th of every month, and the invoice is created on the 14th, you can set the minimum days field to ensure invoices are discounted on the following 15th.

Discount Percent:  Discount that is calculated if the discount terms are met.